Hey guys,
Just spent some time going through the tutorials on
this website (Thanks for the tips!)
Now, I am to set up a demo account for practice, but
have some questions.
My guess is that I will need to practice for 3 months
to really get the hang of it. But most brokers are
advertising a demo acct for only 30 days. What can
I do?
Also, any suggestions on good brokers to open a demo
acct for practice?
Any advice about my stage of development would be
welcome!!
Carl
I can definitely recommend Oanda.
Currency Trading Practice Platform | OANDA FXGame
There is no time limit and the platform is easy to understand.
The other choice could be a MT4 platform, though it looks to be a little more advanced to use. You can get unlimited demo of MT4 here: Forex demo account opening
There are some brokers who do have unlimited practice accounts, some who give you a certain time frame. However, either way, I would still make a personal log of all the trades you get into. Use either a notepad or I have a log in excel. Works perfectly and you don’t care if the account expires or not. I also take a screen shot of when I get into a trade, so I can recall what I did to analyse my trading. Maybe find any weaknesses. I save those screen shots in word.
If you find a broker you like that only offers demos that expire, you can sign up as many times you like. (At least that is my experience with the ones who I have worked with.) Or, maybe, send an e-mail to your Customer Service Rep. asking if you can keep your account open. Some will, some won’t. Worth a shot.
Good Luck and happy trading.
Sorry, thought of more.
Demo many brokers on your own. Do take the advise of members here, but don’t just stop with one or two. What may be a great broker for someone here may not be up to speed for you. That’s the beauty of demos. You may not like the trading platform. You may find a broker with a lesser spread than the other. You may find that they don’t offer the leverage that you want. Or a combo of reasons.
Demoing different brokers is like buying a car. Test drive more than one and find the Maserati (Sorry, it’s my dream car, WHICH I AM GOING TO GET!)
that you love.
i’ve decided to get going, enough learning about the trade…i would love to get recommandations of forex sites that are easy to use, and are able and willing to allow demo accounts, and later on, hopefully, accounts that able low starting rates.
thanks